The decision recipe for evaluating an underlying symbol’s implied volatility rank has three inputs:
This decision recipe allows you to choose whether a symbol’s IV rank is above or below a specific value before moving through the automation.
Enter a symbol and select “Next.” The second field prompts a dropdown menu to choose if the security’s IV rank is above or below the third field, where you manually input a value between 0 and 100. When you have finished creating the recipe select, “Save.”
NOTE: You can also create a custom input, which allows you to input the field later to make the decision recipe dynamic across all automations.
The decision will be added to the list of criteria. You have the option to add more decisions to the recipe or return to the automation editor. When finished, select “Save” again to return to the automation editor.
The automation editor will display your completed decision criteria for evaluating an underlying symbol’s implied volatility rank.
You can always select the decision inside the automation editor and make changes to the criteria.